Is a Food or Service Franchise for Me?
The first thing people typically think about when you mention franchising is a food concept. Everyone wants to know if they should buy a McDonald’s or a Chick-Fil-A vs. a service brand.
In this video, we discuss the pros and cons of food vs. service brands. For example, a food concept requires a lot of overhead costs and is typically a more expensive option. On the other hand, a service concept is usually a lower investment option, because it doesn’t always require a brick-and-mortar location.
You should also consider your lifestyle when choosing between a food brand and a service brand. A food brand is likely to require working evenings, weekends, and holidays. Your franchise consultant can review dozens of brands with you to determine your best option.
In this video, you’ll learn about Item 19, which outlines the financial performance of other franchisees. You’ll also understand the importance of asking other franchisees financial questions and going over the franchise disclosure document (FDD) with an attorney.
It’s best to schedule a call with your franchise consultant to discuss questions you should be asking potential brands and their franchisees. Your consultant can coach you step-by-step to get the answers you need.